EdgeRock Capital LLC Decreases Stock Holdings in Linde plc (NASDAQ:LIN)

EdgeRock Capital LLC lessened its holdings in Linde plc (NASDAQ:LIN) by 4.7% during the 4th quarter, HoldingsChannel reports. The firm owned 503 shares of the basic materials company’s stock after selling 25 shares during the period. EdgeRock Capital LLC’s holdings in Linde were worth $211,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Synergy Asset Management LLC bought a new stake in shares of Linde in the 4th quarter worth about $25,000. Strategic Financial Concepts LLC purchased a new position in Linde in the fourth quarter worth about $28,000. Global Wealth Strategies & Associates raised its position in Linde by 144.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 71 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 42 shares during the period. Retirement Wealth Solutions LLC purchased a new stake in Linde during the fourth quarter valued at approximately $34,000. Finally, Kozak & Associates Inc. lifted its position in Linde by 38.6% in the fourth quarter. Kozak & Associates Inc. now owns 97 shares of the basic materials company’s stock worth $40,000 after buying an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 82.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on LIN shares. Citigroup dropped their price objective on Linde from $490.00 to $480.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Erste Group Bank reissued a “hold” rating on shares of Linde in a research note on Tuesday, November 19th. Mizuho upped their target price on Linde from $520.00 to $530.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. BMO Capital Markets upped their price objective on Linde from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, TD Cowen upgraded Linde from a “hold” rating to a “buy” rating and lifted their target price for the company from $480.00 to $515.00 in a research note on Monday, January 13th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $501.82.

Linde Stock Performance

NASDAQ LIN opened at $458.53 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.76 and a debt-to-equity ratio of 0.39. Linde plc has a twelve month low of $410.69 and a twelve month high of $487.49. The stock has a 50-day moving average of $437.49 and a 200 day moving average of $454.56. The stock has a market capitalization of $218.33 billion, a price-to-earnings ratio of 33.69, a PEG ratio of 3.08 and a beta of 0.94.

Linde (NASDAQ:LIN) last announced its earnings results on Thursday, February 6th. The basic materials company reported $3.97 earnings per share for the quarter, topping the consensus estimate of $3.93 by $0.04. Linde had a return on equity of 18.71% and a net margin of 19.89%. Sell-side analysts anticipate that Linde plc will post 16.54 EPS for the current fiscal year.

Insider Activity

In other news, VP Guillermo Bichara sold 4,385 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $460.73, for a total value of $2,020,301.05. Following the transaction, the vice president now owns 22,776 shares in the company, valued at $10,493,586.48. This trade represents a 16.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP David P. Strauss sold 2,218 shares of Linde stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $434.35, for a total value of $963,388.30. Following the completion of the sale, the vice president now directly owns 25,926 shares in the company, valued at $11,260,958.10. This represents a 7.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,285 shares of company stock worth $7,423,986 over the last 90 days. 0.60% of the stock is currently owned by company insiders.

Linde Company Profile

Linde plc operates as an industrial gas company in the Americas, Europe, the Middle East, Africa, Asia, and South Pacific. It offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.